PostNL NV Annual Shareholders Meeting Transcript
Ladies and gentlemen, I'm pleased to welcome you at this Annual General Meeting of Shareholders of PostNL. As Chair of the Supervisory Board, I am also chairing this meeting. 2022 was a year of challenges, the macroeconomic and geopolitical environment boosted inflation and pressured labor costs, which reduced consumer confidence and, in turn, impacted consumer spending. Given the impact of the challenging macroeconomic circumstances since the end of February 2022, the Board of Management took swift and solid action to improve operational efficiency and retain our financial position so that this supported the progression of results in 2022, while progression continued in important areas such as digital transformation and sustainability, concluding new CLAs and adapting the pension scheme through an agreement that benefits both, employees and participants of the pension funds as PostNL.
PostNL also completed the first ever buyback of 51 million shares that year. The proactive approach of management ensures a good
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